Yemen » Business
Statistics
• Main imports: Petroleum products, cereal, feed grains, food and machinery.
• Main exports: Crude petroleum, refined oil products, seafood and fruit.
• Main trade partners: China, France, Kuwait, United Arab Emirates and USA.
Economy
Under IMF auspices, the government has implemented a programme of structural reforms involving privatisation and an overhaul of the financial system. In exchange, the Yemenis received financial support and some relief of Yemen’s US$5 billion foreign debt. Large-scale unemployment persists; an estimated 30% of the workforce is out of work.
Agriculture is concentrated in the fertile northern part of the country. The principal cash crops are cereals, cotton, coffee, fruit, vegetables and qat (a narcotic leaf). Livestock rearing, fishing and some manufacturing also contribute to the economy.
However, the most important industrial activity is oil and gas production. Yemeni reserves are modest by regional standards but since the opening of the refining complex at Aden in 1994 and new fields coming on stream, the sector accounts for the majority of export earnings.
Business Etiquette
Office hours: Sat-Wed 0800-1500, during Ramadan 1000-1500.
Business Contacts
Al-Quds Street, Southern Safya, PO Box 19022, Republic of Yemen
Tel: (1) 262 962/3.
Website: www.giay.gov.ye
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Information in this section was last updated: Wed May 23 2012
